ServiceTrade, a software-as-a-service (SaaS) company providing applications for commercial service contractors, has recently closed an $85 million round of funding led by JMI Equity. This marks the largest-ever venture capital investment in the Raleigh-Durham area and is expected to have a profound impact on the tech ecosystem. In this article, we’ll take a closer look at ServiceTrade’s mission, how they plan to use their new funds, and what it means for the wider tech industry.
Introduction
ServiceTrade, which offers software as a service (SaaS) applications to commercial service contractors, has raised $85M in a round led by JMI Equity. This funding will be used to help the company expand its offerings and scale its operations.
Founded in 2012, ServiceTrade provides a suite of tools that help businesses manage their field service operations. The software includes features for scheduling, dispatching, invoicing, and customer management. The company also offers a mobile app for technicians, which allows them to view their schedule and update customer information on the go.
With this latest round of funding, ServiceTrade plans to grow its team and expand its product offerings. The company is also looking to enter new markets and build out its sales and marketing capabilities.
What is ServiceTrade?
ServiceTrade is a cloud-based field service management software company that helps commercial service contractors streamline their businesses. The ServiceTrade platform enables contractors to manage their customers, scheduling, quoting, and invoicing in one place. With ServiceTrade, contractors can provide a better customer experience by offering transparency in every job from start to finish.
ServiceTrade was founded in 2012 by Justin Montgomery and Jeremy Jaworski, two former service technicians who saw the need for a better way to manage commercial service businesses. After raising $1M in seed funding from investors including Tim O’Reilly and Jason Calacanis, ServiceTrade launched its platform in 2013.
Since then, ServiceTrade has grown rapidly, serving over 2,500 customers across a variety of industries including HVAC, plumbing, electrical, and IT services. In 2018, ServiceTrade was acquired by JMI Equity for $200M.
Details of the Funding Round
ServiceTrade, a provider of software-as-a-service applications for commercial service contractors, has raised $M in a funding round led by JMI Equity.
The Raleigh, North Carolina-based company will use the funds to accelerate product development and expand its sales and marketing efforts.
Founded in 2010, ServiceTrade provides cloud-based applications that help service businesses manage their customers, contracts, work orders, scheduling, invoicing, and payments.
The company’s customers include HVAC contractors, plumbers, electricians, IT service providers, and other small businesses that provide services to commercial customers.
Benefits of ServiceTrade for Commercial Service Contractors
ServiceTrade is a cloud-based software company that offers service contractors a suite of applications to help them run their businesses more efficiently. The ServiceTrade platform includes tools for job scheduling, dispatching, invoicing, and customer management.
The company has raised $M in a round of funding led by JMI Equity, a growth equity firm that invests in software and tech-enabled companies. This funding will be used to accelerate the growth of ServiceTrade’s business and expand its team.
ServiceTrade’s platform enables commercial service contractors to streamline their operations and improve their customer service. The company’s tools help contractors manage their jobs, dispatch technicians, invoice customers, and track customer satisfaction. By using ServiceTrade’s software, contractors can save time and money while providing their customers with a better experience.
How Does ServiceTrade Compare to Other SaaS Companies?
ServiceTrade, which offers SaaS applications to commercial service contractors, has raised $M in a round led by JMI Equity. This funding will be used to help ServiceTrade expand its sales and marketing efforts, as well as continue to invest in its technology platform.
ServiceTrade is a cloud-based software company that provides its customers with a suite of tools to help them manage their businesses. These tools include customer relationship management (CRM), invoice and estimate creation, scheduling, dispatch, and more.
What sets ServiceTrade apart from other SaaS companies is its focus on the commercial service contracting industry. This focus allows the company to provide its customers with a comprehensive solution that meets the specific needs of their businesses. Additionally, ServiceTrade’s experience in this industry gives it a deep understanding of the challenges and opportunities that commercial service contractors face.
With this new round of funding, ServiceTrade will be able to continue to invest in its technology platform and expand its sales and marketing efforts. This will allow the company to reach even more commercial service contractors and help them grow their businesses.
Conclusion
This news of ServiceTrade’s successful round of fundraising is a positive step for the company and shows that investors have faith in their ability to deliver SaaS applications to commercial service contractors. With this additional capital, ServiceTrade will be able to expand its reach even further, helping more businesses increase efficiency and improve customer satisfaction. It will also enable them to continue developing innovative solutions for their clients, allowing them to stay ahead of the competition and remain at the forefront of technology within the industry.
ServiceTrade, which offers SaaS applications to commercial service contractors, raises $85M in a round led by JMI Equity (Zachery Eanes/Raleigh News & Observer)
